(a) General. Except as provided in this section, a futures commission merchant must at all times maintain in a separate account or accounts money, securities and property in an amount at least sufficient to cover or satisfy all of its obligations to 30.7 customers denominated as the foreign futures or foreign options secured amount. In computing the foreign futures or foreign options secured amount, a futures commission merchant may offset any net deficit in a particular 30.7 customer’s account against the current market value of readily marketable securities held for the same particular 30.7 customer’s account as provided for in paragraph (l) of this section. The amount that must be deposited in such separate account or accounts for 30.7 customers must be no less than the amount required to be held in a separate account or accounts for or on behalf of 30.7 customers pursuant to any law, or rule, regulation or order thereunder, or any rule of any self-regulatory organization authorized thereunder, in the jurisdiction in which the depository or the 30.7 customer, as appropriate, is located.
CFR 17-30.7-2014 history
2014CFR 17-30.7-2014 Commodity and securities exchanges. Part30:Foreign futures and foreign options transactions. Section30.7:Treatment of foreign futures or foreign options secured amount.
2013CFR 17-30.7-2013 Commodity and Securities Exchanges. Part30:Foreign futures and foreign options transactions. Section30.7:Treatment of foreign futures or foreign options secured amount.